Practice Position Trading #2 - ETH/USDT

in trading •  7 years ago  (edited)

Hey guys,

This is my second run at the practice using @quickfingersluc 's style of trading. I'm using a chart I've seen Luc make a lot of profit from. I did not make as many trades :)

Buys at: 8% (2% of account) , 12% (3% of account)
Sell for Average of 10% profit
https://www.coinigy.com/s/i/59b57b960f1ae/

Screen Shot 2017-09-10 at 8.28.22 PM.png

Buys at: 8% (2% of account size), 12% (3% of account size) and 17% (5% of account size)
Average profit of +12%

https://www.coinigy.com/s/i/59b57d94c0715/

Buys at: 8%, 12% and 17% another 5% of account placed at 133(21% below base, not filled)

Sell position: 166 (filled)

https://www.coinigy.com/s/i/59b58005384df/

At this point it's over 1 month without a proper panic crack

https://www.coinigy.com/s/i/59b5813eb4747/

Took three positions. Profit of +10% on all three. No losses

Any advice or guidance would be appreciated.

Edit 1

I have been told by one of the slackroom moderators that I should be considering average break depth, which I've kind of been ignoring for some reason even though I've heard Luc say it and watched the video may times.

If considered average break depth going forward from my first position I would have not even made the 8% nibbles anymore and would have just been going for the 12+% trades only! which makes a big difference. Next one I'm confident will go better.

Any chart recommendations would be appreciated

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

This is super helpful!

I'm happy you got some value out of it.

Congratulations @danemackier! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

You got a First Vote

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

Thank you for this. Do you have the link for the video where Luc talks about average break depth? I may be going to the wrong place but I keep getting dead links. Thanks again.

Hey @msandry. He mentions it in a few videos. I think he mentions it in here https://steemit.com/trading/@quickfingersluc/daytrading-vrs-position-trading-which-will-make-you-more-money I haven't checked again. But it's the points where he draws the average cracks and then compares it by eyeballing it without actually measuring it.

I hope it helps.

Congratulations @danemackier! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard:
SteemitBoard and the Veterans on Steemit - The First Community Badge.

Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

Congratulations @danemackier! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!